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4.4 Net financial expenses 2007 2006 Restated
Analysis of net financial expenses
Net financial expenses 66.457.87
6.694.91 0
Interest expenses and related costs on bank loans 11.164.70
Discounting effect on financial assets 4.95.459
Unwinding of discount for long term liabilities 4.84.509 101.494
Other financial expenses 766.17
Financial expenses 70.954.340
Interest income 80.459.737 (6.5.571)
Net financial expenses (9.669.555) 64.701.769
70.790.182
Interest and related expenses amounting to €66.46.478 (006: €86.559.646) were paid during the year
ended 1 December 007 inclusive of the Greek State Facility Fee of €6.794.187 relating to the period June
006 to December 007.
The weighted average interest rate on the Company’s borrowings for 007 was 5,98% (006: 5.78%).
The weighted average interest rate earned by the Company on its cash surplus for 007 was ,98 % (006:
,80%). The average maturity of the Company’s time deposits for 007 was 1 days (006: 14 days).
The discounting effect on the financial assets would be lower by €740.994 if the discounting rate was 1%
higher while the discounting effect would be higher by €765.67 if the discounting rate was lower by
1%. In year 006 none of the financial assets was considered as long term receivable and therefore none
of them was discounted.
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Analysis of net financial expenses
Net financial expenses 66.457.87
6.694.91 0
Interest expenses and related costs on bank loans 11.164.70
Discounting effect on financial assets 4.95.459
Unwinding of discount for long term liabilities 4.84.509 101.494
Other financial expenses 766.17
Financial expenses 70.954.340
Interest income 80.459.737 (6.5.571)
Net financial expenses (9.669.555) 64.701.769
70.790.182
Interest and related expenses amounting to €66.46.478 (006: €86.559.646) were paid during the year
ended 1 December 007 inclusive of the Greek State Facility Fee of €6.794.187 relating to the period June
006 to December 007.
The weighted average interest rate on the Company’s borrowings for 007 was 5,98% (006: 5.78%).
The weighted average interest rate earned by the Company on its cash surplus for 007 was ,98 % (006:
,80%). The average maturity of the Company’s time deposits for 007 was 1 days (006: 14 days).
The discounting effect on the financial assets would be lower by €740.994 if the discounting rate was 1%
higher while the discounting effect would be higher by €765.67 if the discounting rate was lower by
1%. In year 006 none of the financial assets was considered as long term receivable and therefore none
of them was discounted.
9
